Duplex with Two-Car
For Sale
$329,000
3732 3rd St Ne, Columbia Heights, MN 55421
Private entrances serve both residences, with garage and off-street parking included.
Property Size1,407 SF
Price / SF$233.83
Days on Market37
Property Features for 3732 3rd St Ne
General Information
Standard status
Active
Size
1,407 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,793
Building Details
Buildings
1
Listing Agency:
RES Realty
(612) 501-1276
Listed By:
Hyder Jaweed
(612) 501-1276
Source:
Exprealty
Added: Jul 17
Changed: Aug 20
Last Checked: Aug 22 at 9:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RES Realty
Investment Insights
Based on property information with market context.
This 1,407-square-foot duplex is arranged with one residence above the other. The upper unit contains 2 bedrooms and 1 bathroom, while the lower unit offers 1 bedroom and 1 bathroom. Separate entrances provide distinct access to each unit, and the property also includes a 2-car garage, additional off-street parking, and a spacious yard.
The property is in Columbia Heights, near parks, schools, retail, restaurants, and public transportation. Downtown Minneapolis and major highways are accessible from the property, supporting convenient connections throughout the area. The two-unit layout accommodates an owner-occupant arrangement or separate residential tenancy, as described for the property.
The property is in Columbia Heights, near parks, schools, retail, restaurants, and public transportation. Downtown Minneapolis and major highways are accessible from the property, supporting convenient connections throughout the area. The two-unit layout accommodates an owner-occupant arrangement or separate residential tenancy, as described for the property.
Key Highlights
- 1,407‑square‑foot up‑and‑down duplex
- Upper unit includes 2 bedrooms and 1 bathroom
- Lower unit includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,426
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,520
$348.5K
Cap Rate 7%
$248,943
$248.9K
Cap Rate 9%
$193,622
$193.6K
Market Conditions
NOI Build-Up for 1,407 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.7K $18.96/SF
− Vacancy
−$1.8K −$1.27/SF
EGI
$24.9K $17.69/SF
− OpEx
−$7.5K −$5.31/SF
NOI
$17.4K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,520
Cap Rate 7%
$248,943
Cap Rate 9%
$193,622
Alternative Uses
Best Use
Multifamily LT 5
$248.9K
$217.8K – $290.4K
NOI $17,426 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$229.4K
$200.7K – $267.6K
NOI $16,058 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$390.8K
$342.0K – $456.0K
NOI $27,357 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Private entrances serve both residences, with garage and off-street parking included.
Where is this duplex located?
The property is located at 3732 3rd St Ne Columbia Heights, MN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 1,407‑square‑foot up‑and‑down duplex; Upper unit includes 2 bedrooms and 1 bathroom; Lower unit includes 1 bedroom and 1 bathroom
